Keeping Compliance in Check with BSI

⇨ Findings from SAPinsider’s upcoming Automating and Integrating GRC Processes Research Report found that over half (53%) of SAP organizations feel that they are either somewhat behind their competition or significantly behind their competition when it comes to GRC processes and functions.

⇨ GRC teams need automated solutions that allow them to keep pace with the growing speed of change, freeing them up to work on other essential tasks.

⇨ To help SAP GRC teams meet their demands, Business Software, Inc. (BSI) offers its ComplianceFactory™ suite of solutions to help tackle some of these issues.

Compliance is often overlooked at SAP organizations. GRC teams are often tasked with growing workloads as their organizations grow in size and scope, expanding to different tax jurisdictions. However, these teams often receive no extra funding when their workload grows.

Advanced findings from SAPinsider’s upcoming Automating and Integrating GRC Processes Research Report found that over half (53%) of SAP organizations feel that they are either somewhat behind their competition or significantly behind their competition when it comes to GRC processes and functions. Just 31% feel roughly equal, leaving only 16% of GRC teams that feel they are ahead of the curve.

These GRC teams need automated solutions that allow them to keep pace with the growing speed of change, freeing them up to work on other essential tasks.

Meeting the Market

To help SAP GRC teams meet their demands, Business Software, Inc. (BSI) offers its ComplianceFactory™ suite of solutions to help tackle some of these issues. By far the biggest benefit that SAP organizations expect from their automated solutions is increased efficiency for GRC processes, cited by 68% of community members.

ComplianceFactory helps SAP organizations maintain compliance by continuously updating Federal, State, Local and Territory regulations. Manually updating these regulations is not just time consuming but can also lead to significant errors that result in penalties that can be significantly damaging.

ComplianceFactory allows users to set tax deliveries based on their method and schedule, allowing for increased flexibility. Companies will also receive notifications if any payments need to be prioritized. The solution also features robust control-based capabilities to ensure that all sensitive data is properly managed in the cloud.

Reporting is another key requirement that many SAP organizations have for their GRC teams. BSI helps companies generate and maintain summary reports that can either be disbursed or archived, ensuring that companies are prepared for any audits.

Conclusion

GRC teams are often overburdened, yet the risks of audits, data breaches, and other lapses are too great to ignore. GRC teams must be able to leverage automated solutions so they can keep pace with their growing responsibilities. To help accomplish this, BSI offers its ComplianceFactory SaaS suite of tools. This solution allows GRC teams to manage payroll tax processes across many jurisdictions, integrate with SAP, and have enough time to work on other essential tasks.